Siemens - Penalty

The Biggest Bribe Penalty Ever
German electronics giant Siemens will agree to pay more than $1 billion in fines to avoid prosecution by the Securities & Exchange Commission and the U.S. Justice Dept. on charges it paid hundreds of millions in bribes to win foreign contracts. The fine will shatter the previous record fine under the Foreign Corrupt Practices Act. Siemens will also agree to allow compliance monitors to set up shop in its Munich headquarters to ensure the company has cleaned up its act.

taken from yahoo.com

Any comments?

Hi xbulder

Siemens is a huge company, and I’d guess that fine is related to military and government contracts. Given the amount of money they make, I suspect they’re still ahead of the game. My 2 cents.

Dag

yeap they built also railroad, big medical equipment + etc

it is the entrenched corporate culture… what matters…

the no matter what we need those sales to meet the quarter expectations…

I would wonder. Siemens tactics and claims they are the #1 company

MD refers (over the world)…